Friday, April 30, 2010

The PIIGS are up to their eyeballs in debt

To get an idea of the debt crisis faces the euro have a look at this table from here giving the debt refinancing and deficit financing requirements of the PIIGS countries for the next four years. The required amount is close to $2 trillion and it is suggested that a full bailout could come to close to $1 trillion.

To get an idea of much money is needed to keep these countries going a picture of a trillion dollars in €100 dollar bills is below the fold.